The CEO of Equity Residential is Exercising Options

Today it was reported that the CEO of Equity Residential (NYSE: EQR), David Neithercut, exercised options to sell 30,000 EQR shares at $19.67 a share, for a total transaction value of $2.04M.

Following David Neithercut’s last EQR Sell transaction on June 13, 2018, the stock climbed by 5.3%. In addition to David Neithercut, one other EQR executive reported Sell trades in the last month.

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Based on Equity Residential’s latest earnings report for the quarter ending June 30, the company posted quarterly revenue of $635 million and quarterly net profit of $113 million. In comparison, last year the company earned revenue of $608 million and had a net profit of $108 million. EQR’s market cap is $25.04B and the company has a P/E ratio of 60.93. Currently, Equity Residential has an average volume of 1.4M.

Based on 9 analyst ratings, the analyst consensus is Hold with an average price target of $67.33, reflecting a -0.6% downside.

The insider sentiment on Equity Residential has been negative according to 46 insider trades in the past three months. This sentiment is lower than the average sentiment of company insiders in this sector.

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Equity Residential operates as a real estate investment trust, which engages in the acquisition, development, and management of rental apartment properties. The company was founded by Robert H. Lurie and Sam Zell in March 1993 and is headquartered in Chicago, IL.